Solana Weekly Recap Week 48 (24/11

Solana and the Solana ecosystem are constantly growing and moving forward. To help you not miss any news & movements of the ecosystem in the last 7 days, here is your Solana Weekly Recap.

Key Takeaways

Solana NFTs Market Rebounds After FTX Fallout.
Neon EVM will go live on mainnet on 12/12/2022.
Binance delisted Serum Trading Pairs ( $SRM ).
The Leading Solana NFTs Marketplace Magic Eden Expands to Polygon Network.

Ecosystem Updates

NFTs revive but not too strong, SPL token gives way to blue chip NFTs to dominate the return of Solana ecosystem.

1. Market Data

Solana NFTs Market Rebounds After FTX Fallout

The collapse of FTX led to the depletion of confidence in the Solana ecosystem, everyone thought that Solana would be difficult to overcome this winter. However, the founder of the Solana project is still optimistic about Solana’s future and thinks that Solana will continue to grow.

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I Like Solana – Raj

It is true that Solana has made a comeback, but not in the price of SPL tokens, but in the NFTs market, where Bluechip NFTs like Degods are growing again. As noted from nansen.ai, an onchain indexing tool, the volume of NFTs trading on Solana has increased continuously over the past 2 weeks.

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Solana NFTs Volume Trading Per Week – Nansen.ai

2. Solana Network

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Solana Network Update – Solana Daily

Neon EVM will go live on mainnet on 12/12/2022

Neon EVM is the first and only EVM on Solana, and it will have a profound impact on both the Ethereum and Solana ecosystems. For Ethereum projects aiming to expand into new ecosystems, differing programming languages are no longer a concern.

Developers familiar with Solidity, Vyper, and the existing Ethereum smart contract languages can now use Neon EVM to deploy on Solana.

3 – On DeFi

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Solana DeFi Highlights – Solana Daily

Binance Delists Serum Trading Pairs ( $SRM )

An extremely bad news for Serum in particular, and Solana ecosystem in general. The token representing Serum SRM, currently Solana’s liquidity center, has been delisted by Binance. List of The Delisted SRM Trading Pairs SRM/ BTC SRM/BNB SRM/USDT.

Some explanations for this action of Binance, SRM is also one of the high-value coins on the list of remaining assets of FTX, as stated by former CEO Sam Bankman-Fried. Moreover, FTX/Alameda is accused of intentionally designing “Sam coins” such as SRM, FIDA, OXY, MAPS to be easily collateralized for loans. Although SRM is still listed on Kraken, Kucoin, and Gate, the majority of SRM trading volume takes place on Binance.

4 – On NFTs

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Solana NFTs Highlights – Solana Daily

The Leading Solana NFTs Marketplace Magic Eden expanded to Polygon Network

Why does Magic Eden choose Polygon?

NFTs Sales Volume Rebounded Strongly: Thanks to data from Cryptoslam , at the end of October 2022, Polygon had the biggest growth in terms of NFTs Sale Volume among top blockchains. 191% is an impressive number. We believe this is the key factor that Magic Eden saw.
Some big boys have jumped into NFTs on Polygon Nike and Starbucks have been the first members of the NFT family on Polygon . Many rumors suggest that YouTube is the next one.
Polygon Is The Dominant NFT Platform For Games: According to Magic Eden , they will invest in early stage games via Magic Eden Ventures. In addition, they also announced support for Polygon in many other factors including: Monetization, Infrastructure, Reaching Audiences.